I just learned last week that a relative of mine has not made a mortgage payment in over two years. She’s still living there...
I have a niece doing the same. They have two cars, TiVo, cable, two Blackberries with unlimited plans and she just had her nose pierced.
We have no cable, Pay as you go phones, two used cars and we homeschool. We bought our house for 161,000 and couldn’t sell it for over 100,000 right now.
Yet we make our payments. Fools that we are, we make our payments.